EY-Parthenon and SGV conduct PRA webinar
EY-Parthenon and SGV partnered with the Philippine Retailers Association (PRA) for the conduct of a webinar titled “Navigating Retail Businesses beyond the COVID-19 Pandemic” on 11 May. The virtual session discussed how COVID-19 is accelerating disruption in the retail industry in ASEAN; how retail markets will shift after the pandemic; and the main growth drivers and leading operational strategies that businesses can implement to address immediate and long-term issues. PRA President Rosemarie B. Ong welcomed over 200 participants to the session, including members of the PRA and executives from the local retail industry.
Olivier Gergele, Ashutosh Deshmukh and BTB presenting at the PRA webinar
EY-Parthenon Partner Olivier Gergele provided a comprehensive overview of the global and local economic impact of COVID-19 on retail, such as the growth of online businesses, the emergence of new business models like dark kitchens, and the projected ASEAN economic outlook, among others.
EY-Parthenon Associate Partner Ashutosh Deshmukh discussed five areas that retailers can consider in navigating the impact of the pandemic: building an online business, driving supply chain resilience, expanding product offerings, taking advantage of lower valuations to achieve strategic acquisition, and driving agility and empowering organizations for fast local decision-making.
SGV Assurance Partner Belinda T. Beng Hui (BTB) discussed the EY resilience framework. Emphasizing the importance of scenario planning and implementation planning, she presented possible economic scenarios and industry forecasts that companies can study when developing their future operating strategies. She explained approaches that organizations can adopt such as identifying and addressing specific areas for improvement, and benchmarking current practices against the industry’s leading practices.
Speakers at the PRA webinar with moderator Rolly Pagaspas
The event’s local organizing team included BTB, SGV Strategy and Transaction Services Partner Ramon D. Dizon and Strategy and Transaction Services Partner Marie Stephanie Tan-Hamed.